The United States is made up of individuals from all over the world and is home to many non-U.S. citizens who live, work, and sometimes die in this country. So what happens when a non-U.S. citizen passes away in the U.S.? Usually, there is nothing that stops such an individual’s estate from being distributed. Unfortunately, […]
The Financial Account Standards Board (FASB) has replaced the Accounting Standards Codification (ASC) regarding property leases. The new standard, referred to as ASC 842 or ASU 2016-02, replaces the 40-year-old US GAAP leasing standard, often referred to as ASC 840. ASC 842 was issued in February 2016 to help dis-incentivize businesses from leasing property rather […]
You may have heard that Delaware is the best place to form your business entity. This is because the state has laws that favor business formations. Such laws have included: Most favorable franchise tax rules; Most pro-management from a legislative and judicial standpoint; Broader protection for board members against lawsuits initiated by shareholders on behalf […]
Marriage is a joining of two lives. From bank accounts to taxes, couples begin to combine their assets and benefits. But while most newlyweds think of many of these issues, few give thought to the creation of an estate plan. Contrary to popular belief, estate plans are not only for the rich or aged. In […]
The point of an estate plan is to provide for our loved ones, whether it be when we become incapacitated, or upon our death. Each of us wants to know that our interests are protected and that our loved ones are provided for. If we become ill we want to know that we will be […]
As life changes over time, it is wise to create and regularly review a Will with an experienced estate planning and probate attorney. This can allow you to make your own decisions for your wishes should you find yourself in certain situations. It also allows your wishes to be carried out when you pass away. […]
The probate process is designed to help settle an estate under court supervision in order to ensure that bills are paid and persons lawfully inherit the estate. If someone dies with a will in place (“testate”), it may nominate someone whom the decedent wished to serve as the will’s executor. If someone dies without a […]
Whether or not you and your significant other are married, it may be a good idea to create an estate plan for you both – regardless of sexual orientation. Although estate planning may seem unfamiliar and overwhelming, it doesn’t have to be. As the laws in this country continue to evolve, it is often in […]
No matter who you are and what you do for a living; you can always be exposed to lawsuits. But while everyone has the potential to defend against a claim, some professionals are more likely to do so than others. Individuals such as doctors, lawyers, business owners, and financial advisors are more inherently exposed to […]
When most of us think of an estate plan, we think of a personal document used to distribute our many personal assets after we are gone. However, estate plans can also serve other people, such as business owners. Every business owner can benefit from putting together an estate plan in order to protect his or […]
